Bond Issue - Community and Economic Development Loan - $36,000,000
For the purpose of authorizing the Mayor and City Council of Baltimore (pursuant to
General Assembly House Resolution III and Senate Resolution III of 2022 approved
by the members of the Maryland General Assembly representing Baltimore City) to
create a debt, and to issue and sell its certificates of indebtedness as evidence thereof,
and proceeds not exceeding THIRTY-SIX Million Dollars ($36,000,000.00) from
the sale of such certificates of indebtedness to be used for the cost of issuance,
including the expense of engraving, printing, advertising, attorneys’ fees, and all other
incidental expenses connected therewith (which may include the proportion of the
compensation of employees and general administrative expenses of the Department of
Finance reasonably allocated to the issuance of the bonds); and the remainder of such
proceeds to be used for or in connection with planning, developing, executing, and
making operative the community, commercial and industrial economic development
programs of the Mayor and City Council of Baltimore, including, but not limited to,
the acquisition, by purchase, lease, condemnation or any other legal means, of land or
property, or any right, interest, franchise, easement or privilege therein, in the City of
Baltimore; the payment of any and all costs and expenses incurred in connection with
or incidental to the acquisition and management of said land or property, including any
and all rights or interest therein hereinbefore mentioned; the payment of any and all
costs and expenses incurred for or in connection with relocating and moving persons
or other legal entities displaced by the acquisition of said land or property, or any of
the rights or interest therein hereinbefore mentioned; the development or
redevelopment, including, but not limited to, the comprehensive renovation or
rehabilitation of any land or property, or any rights or interests therein hereinbefore
mentioned, in the City of Baltimore; and the disposition of land and property for such
purposes; the elimination of unhealthful, unsanitary, or unsafe conditions, lessening
density, eliminating obsolete or other uses detrimental to the public welfare or
otherwise removing or preventing the spread of blight or deterioration in the City of
Baltimore; building from strength; stabilizing middle neighborhoods, strengthening
neighborhood retail corridors, the creation of healthy, sanitary, and safe, and green
conditions in the City of Baltimore; the demolition, removal, relocation, renovation or
alteration of land, buildings, streets, highways, alleys, utilities or services, and other
structures or improvements and for the construction, reconstruction , installation,
relocation or repair of buildings, streets, highways, alleys, utilities or services, and
other structures or improvements; making loans and grants to various projects and
programs related to growing businesses in the City; attracting and retaining jobs;
providing homeownership incentives and home repair assistance; making loans and
grants to various projects and programs related to improving the cultural life and
promotion of tourism in Baltimore City; and the lending or granting of funds to any
person or other legal entity to be used for or in connection with the rehabilitation,
renovation, redevelopment, improvement or construction of buildings and structures to
be used or occupied for residential or commercial purposes and the payment of any
and all costs and expenses incurred for, or in connection with, doing any or all of the
things herein mentioned, including, but not limited to, the costs and expenses of
securing administrative, appraisal, economic analysis, engineering, planning, designing,
architectural, surveying, and other professional services; and for doing any and all
things necessary, proper, or expedient in connection with or pertaining to any or all of
the matters or things hereinbefore mentioned; all such land or property shall be
acquired, developed, redeveloped, renovated, rehabilitated, altered, improved, held
or disposed of, as provided by law; authorizing the issuance of refunding bonds;
conferring and imposing upon the Board of Finance of Baltimore City certain powers
